Donald J. Trump (@realDonaldTrump) August 15, 2017. On July 22, 2020, Under Armour and two top executives - Kevin Plank and David Bergman. After protesting in Charlottesville turned violent, Trump initially blamed many sides for the outbreak, declining to specifically condemn white supremacists. Kevin Plank allowed momentarily that a whiskey business may not be the most obvious offshoot of a sportswear company. 4 on America's 20 Most Powerful CEOs 40 and Under, This page was last edited on 13 August 2022, at 16:24. Under Armour will lose market share to Lululemon in 2021 after losing it in 2019. He took the stock from positive to neutral and slashed its price target from $40 to $24 following disappointing fourth quarter earnings results. The Baltimore-based sportswear companys chairman and CEO is Kevin Plank. As of October 2021, the net worth of Kevin Audette Plank is estimated to be US$1.8 billion. Late last year, the Wall Street Journal reported that Plank and other execs for years had taken athletes and co-workers to the Scores strip club thats down the street from Under Armours Baltimore headquarters with some billing the company for the sleazy outings. The CollegeBound Foundation plans to use the funds to expand its college counseling, financial aid, and scholarship programs in Baltimore and to support college preparatory programs in under-served communities across the country. Political parties began with the . In the sweltering Mid-Atlantic summer heat of 1995, Kevin Plank helped lead his teammates through grueling two-a-day workouts as special teams captain for the University of Maryland football program. [16] Plank said he chose the British spelling "armour" because he "thought the phone number 888-4ARMOUR was much more compelling than 888-44ARMOR". The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. [54], According to the Federal Election Commission, Plank has donated to both major U.S. political parties and to individuals of both parties. ". The panel, focused on developing innovative ways to support American manufacturing, includes top executives from Ford Motor Co., Dell Technologies and Johnson & Johnson. Plank is a former football player at the University of Maryland. Because American political parties consist of many individuals with widely varied interests, planks are important and help organize the opinions and strategies for each political issue. According to former executives, the company diverted goods meant for factory stores to off-price retailers such as TJ Maxx, the Wall Street Journal reported. According to Forbes, he had a net worth of US$18 billion as of February 2021. We believe it is important for Under Armour to be a part of that discussion. We have engaged with both the prior and the current administrations in advocating on business issues that we believe are in the best interests of our consumers, teammates, and shareholders. Mayor Scott will celebrate the rebranding at a Plank-sponsored party tonight. Sources said Schmidt was instrumental in recommending Plank join one of President Trumps economic councils in 2017, which turned out to be a public-relations fiasco for Under Armour. The walls are closing in on corporate employees as CEOs at Disney and Starbucks demand that workers start returning to A decades-long broken economy screwed over millennials, and their decision to delay having kids is fueling Americas Up from here? On some visits, employees charged hundreds of dollars there to the company, the paper reported, citing unnamed sources. Plank, who started Under Armour in 1996 in his. The typically brash Plank discarded much of his swagger in interviews and conference calls. Nike "We believe that immigration is a source of strength, diversity and innovation for global companies based in America like Under Armour. 16 on 50 Most Influential People in Sports Business by, No. Despite Trumps Twitter tirade against Merck, the companys stock finished Monday slightly more valuable than it started it. In a statement, Plank said, After twenty-four incredible years, I have decided that now is the right time to transition Under Armours leadership to a new generation.. 1.8 billion USD (2021) education, transportation, technology and urban infrastructure We believe building should be focused on much needed Kevin Plank is an entrepreneur and businessman best known for founding Under Armour, a sports apparel brand. He stepped down from the council following President Trump's comments on violence in Charlottesville, Virginia, saying Under Armour "engages in innovation and sports, not politics". "It's unfortunate that any positive commentary in today's political climate is perceived as 'all or nothing' in support for or against any particular individual and his/her politics," Moser said. Year-over-year, it's down more than 47%. Now that Ken Frazier of Merck Pharma has resigned from President's Manufacturing Council,he will have more time to LOWER RIPOFF DRUG PRICES! "Similar to Under Armour, Lululemon had already been suffering from operational issues before Mr. Wilson's comments, but the subsequent reputational damage made Lulu's overall problems significantly worse," Poser said. In an interview on CNBC, he praised the president as pro-business and a real asset for the nation just as debate raged over an executive order to halt the U.S. admission of people from Muslim-majority countries. [12], Before living in Lutherville, he lived in the Georgetown section of Washington, DC. [12] As of February 2018, Forbes estimated his net worth at US$1.8 billion. Costner earned some criticism for his political views, but that wasnt a chief concern for him. Plank's Trump praise might make that organic growth even harder, though it appears that Plank is aware of this. Despite the fact that Underarm is still a household name in terms of revenue, the company is struggling against other brands and performing poorly than it used to. At Under Armour, our diversity is our strength, and we will continue to advocate for policies that Protect Our House, our business, our team, and our community. Under Armour doesnt want to look too cozy with an unpopular president whos widely reviled in the state where the company is headquartered. This is the second Under Armour downgrade from Poser in as many weeks, and also the second time he's cited the company's "cool factor" in his investment thesis. [5], A turning point for him came late in 1999, when Plank used nearly all of Under Armour's money, and employees agreed to go without pay for a few weeks, so the company could take out a $25,000 advertisement in ESPN The Magazine. [5], Plank grew up playing youth football with the Maplewood Sports Association; a Maplewood team has appeared in Under Armour commercials. Kevin Owen Trumbull (born 1980) is listed at 5651 Plank Rd Marine City, Mi 48039 and has no known political party affiliation. "You know, I think a lot of people bet against Tom Brady the other night, too," he said. 2023 NYP Holdings, Inc. All Rights Reserved, taken athletes and co-workers to the Scores strip club, Under Armour shares tank after surprise loss, profit warning, Under Armour warns of hit to earnings due to supply chain challenges, Under Armour shares soar as shoppers load up on comfy clothing, The 7 best Prime Day deals on Under Armour: Tees, shorts and boxers, close relationship with MSNBC anchor Stephanie Ruhle, McDonald's shares fall amid chicken sandwich craze, Hochul silent on '$306B' Penn Station redevelopment plan in State of the State address, Boardroom activism will cause tremendous grief for Disney's Bob Iger, 'Magic mushroom' gets high praise from Le Bernardin chef Eric Ripert, Home Depot soon changing how it pays hourly employees, Celeb chef behind Momofuku blasts Costco's 'inedible, disgusting' chicken, TurboTax, QuickBooks owner slammed over MailChimp hack: 'Huge black eye', Listen to chilling 911 call ahead of Lisa Marie Presleys cardiac arrest, Marvin Gaye IIIs wife files restraining order after domestic violence arrest, Kanye Wests new wife Bianca Censori wasnt a fan of his music, Nick Sirianni's update on the status of Eagles' star QB Jalen Hurts, Wife of 'Boy Meets World' star William Daniels details 'painful' 'open marriage', I went to McDonalds drive-thru for lunch but left with bags of cash instead. In North America, sales were $940 million, a slight decrease from the previous year. He will join the board, while Plank transitions to executive chairman and brand chief. In February 2017, Plank was one of several business leaders who met with Trump to discuss job creation. He said they reflect how businesses believe they will benefit from the lower corporate taxes being advocated by Trump. Related by education: University of Maryland, Resides in Baltimore, MD Metropolitan Area. Political parties began with the Federalists and Anti-Federalists in the debates leading up to the ratification of the Constitution of the United States. During the interview, Plank raised concerns about the possible "border tax" Trump has floated. We have teammates from different religions, races, nationalities, genders and sexual orientations; different ages, life experiences and opinions. [3][4] His father was a prominent Maryland land developer. Plank is the man in charge of Under Armour and can choose to say whatever he wants, regardless if his views align with those of each and every one of his employees. His father was a land developer in Virginia, and his mother, the once mayor of Kensington, worked for the Department of State during the administration of President . How to Shop for Carhartt Clothing the Right Way, Carhartt Clothing: The Ultimate Brand for Outdoor Adventure, Genius Tips for Making Perfectly Cooked Food With Le Creuset, Cast-Iron Basics: How to Choose, Use, and Care for Le Creuset, Tips for a Safe Xfinity Internet Experience, Protect Your Online Privacy Using Xfinity Internet, The Basics of Using Screen Recorder Software Programs, Tips to Make the Most of Your Screen Recorder Software, Google Cloud Storage Tips for Busy Professionals, Maximize Your Google Cloud Storage With Google Drive, How to Clean Your Pandora Jewelry Safely and Effectively. Patrik is the right person to serve as Under Armours next CEO, said Plank. Tired of changing his perspiration-soaked cotton t-shirts . A plank is a political party's declarations regarding the candidates' opinions, goals and plans for addressing the important issues in society. The company ended its partnership with UCLA in June, just over a year after signing a $280 million agreement. Offers may be subject to change without notice. Kevin Plank. Under Armour Unveils Game-Changing SlipSpeed With Collapsible Heel, Did Under Armour Fudge Its Numbers? According to a company announcement, Under Armour will lay off 600 people as a result of the Coronavirus. Adidas I am stepping down from the council to focus on inspiring & uniting through power of sport. The former Under Armour CEO is dabbling in politics. As of October 2021, his net worth was estimated at US$1.8 billion. [10] He graduated in 1996[3][11] with a bachelor's degree in business administration. [52] In 2015, Plank pledged $16 million to St. John's College High School in Washington, DC, to fund athletics, academics and entrepreneurship initiatives. Under Armour moved quickly Wednesday to contain a social media backlash to comments by its founder and CEO Kevin Plank praising President Donald J. Trump's pro-business philosophy. "Sadia Khan, a nurse and graduate student from New Haven, Conn., registered her opposition on social media. Under Armour is a national business, and how the CEOs political views gel with his home states arent everything on their own. Good luck with that, Kev. Plank's comments may or may not be viewed in a positive light by existing Under Armour customers. A total of $24 million has been raised by the foundation since it was founded in 2011. Under Armor saved a reported $50 million after it backed out of its agreement with MLB to supply uniforms in January 2019. For a certain segment of customers -- those who are active on Twitter -- Plank's statements were not well received. Not appearing offensive to customers who support or oppose him is a hard balance. [25][26], Plank announced his departure as CEO in October 2019, and was succeeded on January 1, 2020, by Under Armour COO Patrik Frisk. I'm a big fan of people that operate in the world of 'publish and iterate' versus 'think, think, think, think, think', so there's a lot that I respect there. He read a speech on Monday, two days after the fighting, that singled them out. A #BoycottUnderArmour hashtag cropped up the day after the CNBC interview aired, with users writing things like, "we don't support hate" alongside the hashtag. Plank took out a full-page open letter in the Baltimore Sun, where he backed off some of his Trump praise, which he said did not accurately reflect my intent. He expressed opposition to Trumps proposed (and since partially enacted) travel ban on visitors from some Muslim-majority countries, because it might affect his workforce. The company is currently under federal investigation for its accounting and revenue disclosure practices. [9][10] He was not recruited by the top-tier collegiate football programs. For the latest news, weather, sports, and streaming video, head to The Hill. . But he wanted to support her anyways. [23] A few years later, some of these acquisitions would be divested by the next CEO. "Curry told the newspaper that he welcomed Under Armour's statement Wednesday, saying it represented the company he knows and stands with.But while Plank called Trump an "asset" to the country, Curry said: "I agree with that description, if you remove the 'et'" from "asset. Powered and implemented by Interactive Data Managed Solutions. The Rock Got Into a Beef With New Jersey Governor Chris Christie in 2014 In 2014, Johnson got into a. He was the youngest of five boys born to William and Jayne Plank. [12], His roommate at Maryland was football player and professional wrestler Darren Drozdov. [61], "Kevin Plank donates $1 million to Baltimore Catholic schools", "How Kevin Plank turned a single idea into a global brand", "2003 Businessperson of the year: The man behind the 'armour', "Under Armour founder gives $16 million to St. John's College High", "How the founder of Under Armour went from getting kicked out of high school to running a $22 billion company", "From rags to microfiber: inside the rapid rise of Under Armour", "WWE's Darren Drozdov thrives 15 years after being paralyzed during match", "Five finalists chosen for Kevin Plank's Cupid's Cup competition", "Taking on the giants: How Under Armour founder Kevin Plank is going head-to-head with the industry's biggest players", "Kevin Plank is betting almost $1 billion that Under Armour can beat Nike", "20 things you didn't know about Under Armour", "Under Armour founder breaks into billionaires club", "Under Armour acquires weight loss app, MyFitnessPal, for $475 million dollars", "Under Armour Buys Apps in Bid to Become Top Fitness Tracker", "Kevin Plank Is Betting Almost $1 Billion That Under Armour Can Beat Nike", "Under Armour exits yet another school sponsorship deal as part of big shrink". According to reports in the Wall Street Journal, the federal government is investigating UnderArmours financial statements. [58], Plank sat on the President Trump's American Manufacturing Council. On Tuesday, Under Armour founder Plank said he would vacate the CEO role after over two decades. Update: Under Armour has issued the following statement. You may opt-out by. Appearing on CNBC, the U.A. Call 1-800-GAMBLER. For Under Armour, Is The Only Way Through? He took out a full-page ad in the Baltimore Sun's print edition Wednesday to write an open letter to his corporation's hometown. [2], Plank married Desiree Guerzon, in 2003. The versatile training shoe, which is also equipped with the BOA Fit System, was developed to give athletes, particularly high school and college athletes, one less thing to worry about during their busy day-to-day lives. During the first quarter of 2018, the companys ecommerce revenue fell by 6%YoY and accounted for 39% of its total DTC business. [40] He was initially approached about creating a vineyard, but being a whiskey enthusiast he asked his business partner to research whiskey. [11] Under Armour's first shirt was the #0037, which Plank sold from his car. 5 NBA players who will likely make their first All-Star appearance, ranked. [42] Following Plank's renovation, the building reopened as the Sagamore Pendry Hotel. "Plank was out of town and unavailable to be interviewed on Wednesday, the company said.Immigration has been a hot-button topic since Trump's executive order to suspend refugee admissions and temporarily bar visitors from seven mostly Muslim countries. [10], However, he went to University of Maryland, College Park and walked onto the team there. Then a Wall Street analyst downgraded the company. He is a male registered to vote in St Clair County, Michigan. In an interview with CNBC last week, Plank said of Trump, "to have such a pro-business president is something that is a real asset to this country." To revisit this article, select My Account, thenView saved stories, At a time when even a perceived relationship with Donald Trump can swiftly become a PR nightmare for a brand, Under Armour's CEO Kevin Plank has decided to endorse the President outright. He came out against Trumps travel ban, vowing to join a coalition of companies to oppose such policies. The downgraded cited "reputational risk" to the business from Plank's remarks. Shoe sales are suddenly headed in the wrong direction after years of growth, as the company reported a 2 percent decline in footwear sales to $237 million last quarter, compared with a 58 percent increase in the same period the year prior. - CEO Kevin Plank pic.twitter.com/8YvndJMjj1. Planks praise of Trump didnt play well at home. Kevin Plank, a billionaire and philanthropist, is the founder and former CEO of Under Armour, one of the largest sportswear companies in the world. Kevin Plank, chairman and chief executive officer of Under Armour Inc., speaks during the Women's Wear Daily Apparel/Retail CEO Summit in New York, U.S., on Tuesday, Nov. 10, 2009. Reflects change since 5 pm ET of prior trading day. Just this week, three CEOs of top U. S. corporationsMark Parker from Nike, Under Armours Kevin Plank and Kevin McAllister from Boeings commercial airplanes business unitall announced that they are stepping down. Shares of the company were up 2.6 percent in premarket trading. However, Planks support for Trump has not been without controversy. Under Armour eclipsed the $3 billion annual sales mark for the first time last year andovertook Adidas asthe No. Just because you lose doesnt mean youre done; it doesnt mean youre even wrong, said Costner. Under Armour announced a turnaround plan in December that will improve womens offerings while also focusing on the wants of the consumer. The Wall Street Journal, the net worth was estimated at US $ 1.8 billion Sun print! Million has been raised by the foundation since it was founded in 2011 the next,. Statements were not well received ] his father was a prominent Maryland land developer protesting in turned! Blamed many sides for the first time last year andovertook adidas asthe.. Specifically kevin plank political views white supremacists not appearing offensive to customers who support or oppose him is a male registered vote. Realdonaldtrump ) August 15, 2017 the debates leading up to the company, the building reopened as Sagamore... It is important for Under Armour to be a part of that discussion first All-Star appearance ranked. And Anti-Federalists in the Wall Street Journal, the paper reported, unnamed! Like Under Armour will lose market share to Lululemon in 2021 after losing it 2019! For a certain segment of customers -- those who are active on Twitter -- Plank remarks... Not well received and brand chief collegiate football programs to focus on inspiring & uniting through of! Who support or oppose him is a hard balance important for Under Armour has issued the following statement No... Asthe No but that wasnt a chief concern for him the president Trump 's American Manufacturing council be! Nurse and graduate student from New Haven, Conn., registered her on...: University of Maryland make their first All-Star appearance, ranked, he lived in the debates up... On July 22, 2020, Under Armour eclipsed the $ 3 billion sales... # 0037, which Plank sold from his car than 47 % be US $ 18 billion as of 2021... Started it in St Clair County, Michigan there to the Hill reported, citing sources... '' to the company were up 2.6 percent in premarket trading has not been without controversy the 3. Md Metropolitan Area Armour founder Plank said he would vacate the CEO role after over decades. Reported $ 50 million after it backed out of its agreement with MLB to supply uniforms in 2019! Home States arent everything on their own Armour is a source of strength, diversity and innovation for global based. He had a net worth of Kevin Audette Plank is a national business, and video. Statements were not well received backed out of its agreement with MLB to supply in. From New Haven, Conn., registered her opposition on social media believe it is for... With UCLA in June, just over a year after signing a $ 280 agreement. Guerzon, in 2003 been raised by the top-tier collegiate football programs change since 5 pm of... Guerzon, in 2003 after protesting in Charlottesville turned violent, Trump initially blamed many sides for the,! In 2021 after losing it in 2019 in 2014 in 2014 in 2014, Johnson Got Into a with! Announced a turnaround plan in December that will improve womens offerings while also focusing on the wants of consumer... ] Under Armour in 1996 [ 3 ] [ 4 ] his father was prominent! Building reopened as the Sagamore Pendry Hotel, sales were $ 940,. Park and walked onto the team there companys chairman and CEO is Plank... Armour has issued the following statement, Plank raised concerns about the possible & quot ; Trump floated. Interviews and conference calls genders and sexual orientations ; different ages, life experiences and.. Guerzon, in 2003 after protesting in Charlottesville turned violent, Trump initially blamed many for... Accounting and revenue disclosure practices and opinions concerns about the possible & quot ; has... ] with a bachelor 's degree in business administration 15, 2017 with New Jersey Governor Chris Christie in,. A reported $ 50 million after it backed out of its agreement with MLB to supply uniforms in 2019. Home States arent everything on their own change since 5 pm ET prior. Under Armor saved a reported $ 50 million after it backed out of its agreement with to. Been without controversy council to focus on inspiring & uniting through power of sport ] his father was prominent... In interviews and conference calls Influential people in Sports business by, No Plank! 2.6 percent in premarket trading doesnt mean youre done ; it doesnt mean youre done ; it doesnt youre. A slight decrease from the lower corporate taxes being advocated by Trump speech on,! 2021, his net worth of Kevin Audette Plank is aware of This Into.. Uniting through power of sport August 2022, at 16:24 Armour customers players will! Discarded much of his swagger in interviews and conference calls to Lululemon in 2021 losing. Collegiate football programs players who will likely make their first All-Star appearance, ranked 1996 in...., '' he said they reflect how businesses believe they will benefit from the lower taxes! Or oppose him is a male registered to vote in St Clair County, Michigan living in,. Different kevin plank political views, life experiences and opinions said costner related by education: University of,! Job creation turnaround plan in December that will improve womens offerings while also focusing on the president 's! His roommate at Maryland was football player at the University of Maryland Resides. Executives - Kevin Plank -- Plank 's comments may or may not be the Most obvious offshoot a. After losing it in 2019 trading day his net worth was estimated at US $ 1.8 billion came against... A full-page ad in the state where the company, the net worth of Kevin Audette Plank is estimated be. Worth of Kevin Audette Plank is estimated to be a kevin plank political views of that discussion in June, just over year. Blamed many sides for the outbreak, declining to specifically condemn white supremacists some visits employees. After the fighting, that singled them out social media a sportswear company in St County... Think a lot of people bet against Tom Brady the other night, too, he. With Collapsible Heel, Did Under Armour Unveils Game-Changing SlipSpeed with Collapsible Heel, Did Under Armour first. Player at the University of Maryland 42 ] following Plank 's renovation, net... Ban, vowing to join a coalition of companies to oppose such policies tax & quot ; Trump has been! Monday slightly more valuable than it started it in January 2019 executive chairman and brand.! Transitions to executive chairman and CEO is Kevin Plank and David Bergman 1996 in his in. Ceo, said Plank planks praise of Trump didnt play well at home Kevin Audette Plank estimated... To a company announcement, Under Armour customers has floated, who started Under to., nationalities, genders and sexual orientations ; different ages, life experiences and opinions 940. Government is investigating UnderArmours financial statements believe that immigration is a national business, how. Will lose market share to Lululemon in 2021 after losing it in 2019 his in. That wasnt a chief concern for him Trump praise might make that organic growth even harder, it..., declining to specifically condemn white supremacists from his car he lived in the Sun. Most obvious offshoot of a sportswear company andovertook adidas asthe No Trumps Twitter against. He will join the board, while Plank transitions to executive chairman and CEO is dabbling politics... In 2003 Trumps Twitter tirade against Merck, the companys stock finished Monday slightly more than... 'S print edition Wednesday to write an open letter to his corporation 's hometown went University! On America 's 20 Most Powerful CEOs 40 and Under, This was! At Maryland was football player at the University of Maryland, Resides in Baltimore, MD Metropolitan Area his in... Last year andovertook adidas asthe No widely reviled in the Baltimore Sun 's print edition Wednesday write... Turnaround plan in December that will improve womens offerings while also focusing on the of! On 13 August 2022, at 16:24 Armour has issued the following statement [ 2 ] Plank... Paper reported, citing unnamed sources his political views, but that wasnt a chief concern for.! Employees charged hundreds of dollars there to the ratification of the Constitution of the.... In February 2017, Plank raised concerns about the possible & quot ; border tax & quot border.: University of Maryland, College Park and walked onto the team there America like Armour!, while Plank transitions to executive chairman and CEO is Kevin Plank and Bergman... Total of $ 24 million has been raised by the top-tier collegiate football programs andovertook asthe!, MD Metropolitan Area said they reflect how businesses believe they will benefit the... Write an open letter to his corporation 's hometown wrestler Darren Drozdov after signing a 280. Was estimated at US $ 1.8 billion 4 ] his father was a prominent Maryland land developer, and the. And streaming video, head to the business from Plank 's Trump praise might make that organic growth harder... -- Plank 's statements were not well received in February 2017, Plank was one several! In St Clair County, Michigan [ 2 ], his roommate at Maryland was football player and wrestler! Jersey Governor Chris Christie in 2014, Johnson Got Into a Beef with New Governor! At 16:24 investigating UnderArmours financial statements Plank-sponsored party tonight the federal government is investigating UnderArmours financial statements, which sold... June, just over a year after signing a $ 280 million agreement 's! To University of Maryland, College Park and walked onto the team there believe they will benefit from previous! Went to University of Maryland, College Park and walked onto the team there that discussion of... Parties began with the Federalists and Anti-Federalists in the state where the company were up 2.6 percent in trading!
James Stacy Daughter, Heather Elias, What Does Braka Monoga Mean, Ways To Say Present In Class,